Análisis de la relación entre los resultados sociales y económicos de las cajas de ahorros españolasun caso de responsabilidad social corporativa
- Cabeza García, Laura
- Martínez Campillo, Almudena
- Marbella Sánchez, Federico
ISSN: 0121-5051
Year of publication: 2010
Volume: 20
Issue: 37
Pages: 33-46
Type: Article
More publications in: Innovar: revista de ciencias administrativas y sociales
Abstract
Social work constitutes one of the fields for the application of Corporate Social Responsibility in the realm of savings banks. Therefore, based on the theoretical framework that explains the nature of the relationship between carrying out activities of a social nature and financial results, the objective of this work is to analyze the effect of investment in social work on the performance of Spanish savings banks. After applying a dynamic model of panel data (GMM), and after controlling for the problem of endogeneity, the findings suggest a negative and significant influence on the level of profitability, both economic and financial. Therefore, our results validate the hypothesis of the trade-off in the financial sub-sector of Spanish savings banks.